Whistleblowing

There are special whistleblowing procedures for some areas, including banking and insurance; these industries which may offer additional advantages, such as a simplified reporting procedure.

For instance, the Financial Market Authority (FMA) has deployed a whistleblowing system reserved for persons looking to provide the FMA with strictly confidential information concerning infringements of European legislation, the Monetary and Financial Code or the FMA General Regulation. 

A whistleblower who has learned of such events in his or her working life or business relationships can report them in writing (in electronic format or on paper), verbally by phone, or by meeting in person with specialist members of the staff in the offices of the AMF.

An acknowledgement of receipt is sent within seven days.

Guarantees apply to whistleblowers who report infringements accurately:

• the originator of the report, the person targeted and the information collected are strictly confidential during receipt and processing; and
• the whistleblower would also not be subject to dismissal, punishment or discriminatory measures, whether direct or indirect, notably concerning compensation or career development, or any other unfavourable measure, for having in good faith reported an infringement to the FMA.

(DOC-2018-13 – Procedures for whistleblowers reporting infringements of the regulations to the FMA; Act 2016-1691 of 9 December 2016 on transparency, anti-corruption and economic modernisation, article L.634-1 of the Monetary and Financial Code)

The Whistleblower Protection Act itself does not distinguish between different sectors regarding the internal reporting process. However, it contains an enumerative list of regulations from other statutes that take precedence over the Whistleblower Protection Act for the reporting of information on violations; these regulations are therefore lex specialis compared to the Whistleblower Protection Act (section 4 (1) HinSchG). Priority special provisions are, among others, regulated by the Money Laundering Act, the Banking Act, the Insurance Supervision Act and the Stock Exchange Act.